5. Alex is buying a four wheel drive, fully loaded Hummer. The cost of the car is S50,000 and he is putting down $10,000. What are his monthly payments if he finances the car over 5 years at 8%? 6. John, age 28, is looking to retire at age 62, with retirement income of $40,000 pe year in today's dollar for 30 years. He can earn a 9% return on his investments and inflation is 3%. How much must he save at the end of each year to meet his retirement goal if his last savings payment is at age 62? (hint: 2 steps) 7. What is the tuition payment that can be made over 4 years, at the beginning of each year, with an account balance of $50,000 earning 6% annually